News Article
Global photonic integrated circuit market to reach US$31.7 billion by 2031
The global photonic integrated circuit (PIC) market is projected to grow from US$3.2 billion in 2023 to US$31.7 billion by 2031, expanding at a CAGR of 33.2%, according to DataM Intelligence.
Growth is being driven by rising demand for high-speed data transmission, the expansion of optical communication networks, and increasing adoption of photonics in data centres, AI, 5G infrastructure and high-performance computing.
PICs enable faster processing and lower power consumption by integrating multiple photonic functions onto a single chip.
North America leads the market with around 40% share, supported by strong data centre investment and major players such as Intel and Cisco driving silicon photonics innovation.
